Developers migrate south for expansion

SOUTHBOUND:Surging prices in the north and rising demand elsewhere are leading property developers to expand their businesses, with billions in new projects planned

By Crystal Hsu / Staff reporter, with CNA

Sinyi Realty Inc (信義房屋) manager Lin Chao-chang (林朝昌) said it is unlikely that the central bank will push interest rates too high or too quickly in the near term.

This month’s sales campaigns can be expected to boost property developers’ revenue for the fourth quarter, particularly in light of their efforts to introduce new products to homebuyers, he added.

Lin also said that although some lawmakers are pushing for a revision of the luxury tax to tighten restrictions on home sales, there is little chance of market sentiment being affected immediately, given the ongoing standoff in the Legislative Yuan.